Monday, January 25, 2021

We’ll Miss You Hammerin’ Hank: Master of Consistency and Tolerance

Last weekend marked the passing of baseball great, Henry Aaron. He was just shy of his 87th birthday. 

Aaron was my first boyhood sports hero at a time when kids could still look up to athletes, celebrities and even Presidents as role models. At the time, I didn’t know the 20-something Aaron would go on to club 755 career home runs and break Babe Ruth’s all-time record of 714—long considered one of the most unbreakable records in sports.

Aaron was the only pro athlete I knew who had my same first name (Henry), nickname (Hank) and almost the same birthday. It didn’t matter that Aaron came up through the racially segregated South (Mobile, AL) and I was a young, white Jewish kid from partially integrated West Philly, and later the mostly white suburbs. I felt a special bond with Aaron, even more so after reading one of the early biographies about him “I Had a Hammer.

For a legendary power hitter, Aaron was on the small side (6 feet tall and 180 pounds in his prime). I was a scrappy undersized singles hitter. But when they started calling me “Hammerin’ Hank” after a rare over-the-fence home run on my scraggly Little League field, that was the ultimate compliment you could give an impressionable 12-year-old.

For some reason, the moniker, Hammerin’ Hank stuck with me, even after I switched sports, towns, and schools. And I felt duty bound to follow the real Hammer the rest of his illustrious career.

I still have my first Hank Aaron baseball card circa 1970. It’s a little worn around the edges, but it still smells faintly of bubble gum and it hasn’t faded much. In those days you got 10 random cards in a pack for a quarter—plus a large slab of stale bubble gum. After blowing my allowance week after week as I accumulated half a dozen duplicate Jose Cardenals, Denny Doyles and enough Alou Brothers (Matty, Felipe and Jesus), my luck day finally came outside the local drugstore. I tore open the pack, held my breath, and there was Aaron’s likeness right on top, was staring at me, quietly confident in his Atlanta Braves uniform. Finally, a bona fide superstar to add to my mediocre collection of cards! It was like getting the Golden Ticket from Willy Wonka’s chocolate factory!

Life lessons from baseball cards.

That early life lesson taught me to keep plugging away and never give up in pursuit of your goals. More on that in a minute.

Aaron finally eclipsed Babe Ruth’s all-time home run record on a cool April 1974 night in racially tense Atlanta, Georgia. I wasn’t old enough to know about all the hate mail and death threats Aaron and his family endured as he closed in on Ruth’s seemingly unassailable home run record—one of the last remaining monuments to Caucasian superiority in the major team sports. I just celebrated with baseball fans everywhere as we watched Aaron circle the bases on TV with two young white fans, equally exhilarated, serving as his unofficial escorts, before they were tackled and hauled off by security.

Only later did I learn that Aaron was barred from playing on his high school team because of the color of his skin and that as a teenage young professional in the southern minor leagues, he had to overcome endless racial taunts and a cross-handed batting grip (left hand above his right). But it was that athletic dyslexia that gave the righty, Aaron, tremendous forearm and wrist strength—deceptive power that allowed him to launch baseballs further than any slugger in the game’s history (except one).

Aaron retired after 23 seasons, but his home run record stood for three more decades until it was finally broken by Barry Bonds—a much larger man—later found to have taken anabolic steroids and other performance enhancing drugs (PEDs) as he chased Aaron’s home run record. Even with modern training and PEDs, Bonds barely broke the record when he retired with 762 homers.

Aaron was gracious after being eclipsed by Bonds in 2007. “I move over and offer my best wishes to Barry and his family on this historical achievement,” Aaron said. “My hope today, as it was on that April evening in 1974, is that the achievement of this record will inspire others to chase their own dreams.”

To his credit, Bonds last week tweeted a thank you to Aaron, calling him “a trailblazer through adversity” and credited him for “setting an example for all of us African American ball players who came after you."

Master of consistency

What many don’t realize about Aaron is that he not only had tremendous longevity, but was an outstanding fielder, a smart, speedy baserunner and a hitter who set a number of other all-time Major League records that remain on the books today:

  • Most runs batted in (2,297).
  • Most total bases (6,856).
  • Most extra-base hits (1,477).

Another remarkable thing about Aaron’s body of work is that he only led the league in home runs four times during his stellar 23-year career. He just kept hitting 30 or 40 dingers per year for an incredibly long time. Same thing with his extraordinary career RBI total. He only led the league four or five times in that category as well—he just kept driving in 100+ runs per season year after year after year.

The mantra of consistency has served me well as a lifelong distance runner, triathlete and entrepreneur. You just have to set the bar high and keep grinding away, day after day after day.

Tom Seaver, another recently departed Hall of Famer, once said: “In baseball, my theory is to strive for consistency, not to worry about the numbers. If you dwell on statistics, you get shortsighted. If you aim for consistency, the numbers will be there at the end.”

Conclusion

“What I deeply admired and respected about [Aaron] is that each time he rounded those bases — an astonishing 755 trips home — he melted away more and more of the ice of bigotry to show that we can be better as a people and as a nation," President Biden related last Friday. "For generations of athletes and civil rights advocates who followed, he showed how to be proud and be unafraid to stand up for what is right and just," the President added.

We’ll miss you Hammerin’ Hank. The game was lucky to have you.

What’s your take on podcasting? We’d like to know.


#HankAaron, #Baseballgreats, #equality, #Hall of Fame #consistency

What’s keeping your clients (and peers) up at night? See our 2021 CPA/Wealth Advisor Confidence Survey™

Wednesday, January 20, 2021

Using Podcast Interviews to Establish Credibility

By Tina Dietz, guest columnist

With 65 million Americans monthly listeners, podcasting is one of the fastest growing platforms that professionals can use to establish authority. Whether you’re just starting a firm, or your organization has long-established credentials, podcasting can catapult your influence beyond the capabilities of many other expert-building marketing channels.

Getting featured on TV, publishing a book or doing public speaking are gold standards for expert status (see CPA/Wealth Advisor Confidence Survey™ ), but podcasting has made it possible for all types of financial advisors to share their knowledge and expertise with a wide audience.

One of podcasting’s biggest advantages is that it’s open publicity. This means the host has the freedom to generate the message and control the content. Podcasting also requires fewer resources than video and is more accessible. That’s because audio is available to consumers even when text and video are not such as when driving, jogging, gardening or cycling. The convenience of listening to downloadable audio files on smartphones or tablets has created a new wave of attentive, on-the-go listeners.

Voice of authority

Using your personal voice to reach your target market is a powerful channel for conveying your firm’s values and brand authenticity. Doing so deepens trust and develops loyalty with clients, prospective clients, strategic partners and future employees. By using a conversational format, podcasters have the freedom to articulate what makes their firm unique, without using typical marketing jargon.   

Below, we’ll focus on leaders who are looking to establish themselves as experts and to develop their spheres of influence.

Getting started with podcasting

You don’t need to be a host yourself. One of the best ways to introduce yourself to a new market is to be a podcast guest. Hosts are hungry for content. They are searching for experts like you—people in the know who can keep their shows fresh to provide value to the audience. There are over 30 million podcast episodes today, and that number has grown significantly over the past 10 years.

The key is to reach out personally to hosts of podcasts most appropriate for your subject niche – don’t ask your assistant to do it for you.

Podcast hosts want a good fit for their shows. After they book you, they will take the time to suggest ways that you can most effectively resonate with their audience. One way to find podcasts that are looking for guests is to do a keyword search in Apple Podcasts or Google for shows with topics that appeal to your ideal clients or target market. Apple Podcasts is to podcasts as what Amazon is to books; it is the premier platform for broadcasting your audio message to an eager audience.

You don’t have to start with cold leads, however. Ask colleagues who’ve been guests on podcasts you like to introduce you to the hosts of those shows. As with developing your practice, referrals go a long way toward establishing credibility and building relationships.

If you have the resources, you can also use a booking service to acquire guest spots; there are several excellent companies that can take care of placing you on the perfect shows.

Leveraging podcast interviews

Once you’ve secured a podcast spot, there are infinite ways you can use, and re-use, this valuable content. You can now post audio clips on your website or blog, include audio clips in your media kit, or feature them on your company profile or LinkedIn page. You can share the audio across social media, or use the transcribed content for new articles or blog posts. A wealth of marketing assets is available at your fingertips when you have podcast content.

Conclusion
Podcasts are free for everyone to access. It takes almost no technical know-how to get started as a guest. These characteristics make being featured on podcast interviews one of the best “expert platforms” available today. What are you waiting for?

What’s your take
on podcasting? We’d like to know.

Tina Dietz is an internationally acclaimed speaker, audio publisher and podcast advisor to HB Publishing & Marketing Company. Visit her at Twin Flames Studios

 

#Podcasting, #practicemanagement, #thoughtleadership

Monday, January 11, 2021

Voices of Reason Amid the Chaos

After a year like 2020, many were hoping for some normalcy in 2021. It didn’t last long. This first week of the new year saw a record number of Covid deaths, an armed insurrection of the U.S Capitol, a surprisingly weak jobs report, new calls for Presidential impeachment, Democrats gaining a Senate majority for the first time in a decade, and a jet liner disappearing shortly after takeoff with 62 passengers on board. Whew!

Sounded like a bad Hollywood movie script, but sadly it wasn’t.

Despite the market’s resilience (for now), it was enough to test the resolve of even the most optimistic among us. I’m sure you received calls from nervous clients asking if it was time to take a more defensive position. See what’s keeping your peers and their clients up at night.

In these extraordinarily volatile times, several advisors who participate in our PR Light program shared common sense wisdom about maintaining one’s financial cool during unsettling times. We hope you find their insights comforting and enlightening:

DR. GUY BAKER, PH.D. (Wealth Teams Alliance, Irvine, CA) told Forbes that not all assets are created equal, especially when calculating your net worth. He also counseled Yahoo Finance readers to prioritize their credit card debt during their post-Holiday hangover and told Moneywise readers to brace for “higher tax rates, higher interest rates and slower economic growth during the early years of the Biden administration as the Fed acts to offset rising inflation.”

*** Contact us here if you’d like to learn more about our PR Light program. Give us one hour per week of your time, and you can 10X your profile.

Prepping for a new Administration

At a time when commercial real estate seems at the abyss, BLAKE CHRISTIAN, senior tax partner of HCVT, LLP (Long, Beach, CA) believes the Opportunity Zone (OZ) program may have a unique role in leading the comeback of businesses in disadvantaged communities. It may also reinvigorate commercial real estate overall. Christian told National Real Estate Investor that both President-elect Biden and Vice President-elect Kamala Harris have praised the Opportunity Zone program as an economic development tool and that they’ll give it even more support as greater transparency and accountability is being built into the program.

“I’ve been doing this for 40 years and, and OZ is the most flexible and impactful economic development program that I’ve seen in my career,” observed Christian. “It works really well for real estate, it’s way more flexible than a 1031 exchange and it’s fantastic for operating businesses.”

Part of the power of Opportunity Zones is that they’re not restricted to real estate. “A third of my opportunity zone business is on operating businesses,” Christian told The New York Times recently. “They’re accelerating quicker than real estate projects at this point.” Practicing what he preaches, Christian is creating an OZ fund to finance the expansion of a manufacturing business, of which he is a co-owner, that converts shipping containers into housing for homeless and low-income earners.

In these uncertain economic times, KAREN KOCH, a partner of Bedford Cost Segregation, (Louisville, KY) told The Tax Adviser that research and development (R&D) tax credits can be highly effective way for all kinds of businesses to replenish valuable dollars spent on new and innovative products or processes. Koch said many companies leave thousands of potential R&D credits on the table because they think they must create breakthrough innovations from scratch. In reality, Koch said they can earn valuable R&D credits simply by properly documenting improvement they’ve made in their products or internal processes.

Speaking of processes, KYLE WALTERS (L&H CPAs, Dallas, TX) shared great tips for cutting through analysis paralysis andexpanding the power of your network in separate recent columns for Accounting Today.

Finally, RANDY FOX, founder of the advanced planning firm, Two Hawks Consulting, (Skokie, IL) told WealthManagement.com why he was committed to raising $10 billion for charity. Hint: It’s about better educating advisors; not about finding big money donors.


Conclusion


My dad always told me things are never as bad as they seem when the chips are down, just as things are never as good as they seem when you’re on a roll. There are plenty of ways to prosper in good times and bad. As financier George Soros said: “Markets are constantly in a state of uncertainty and flux. Money is made by discounting the obvious and betting on the unexpected. 

There will be plenty of time for that in 2021. While you’re at it, give your folks a call. They’d love to hear from you and chances are they’re right.

What’s keeping your clients (and peers) up at night? See our 2021 CPA/Wealth Advisor Confidence Survey™.

 

#practicemanagement, #thought leadership, #wisdom, #blakechristian, #GuyBaker, #thepersonalcfo, @BedfordCostSeg, Randyfox, wealthadvisorconfidence